Wells Fargo Securities
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US banks returned to the dollar market with quick-fire trades, exploiting tightening in spreads on hopes that US president Donald Trump will loosen regulation in the sector. -
The dollar high grade market slowed to a subdued pace this week following the bonanza of the previous one as corporates with funding needs lined up their documentation after reporting earnings.
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Wells Fargo has named a new regional president for Asia Pacific, promoting Jafar Amin.
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Panera Bread, the US chain of bakery cafes, received $200m from six lenders this week as it served up healthy financial results on Tuesday.
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Jafar Amin has been promoted to regional president for Asia Pacific at Wells Fargo, relocating to Hong Kong after working in London for nearly five years.
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Bank of America was looking to walk away with a fresh chunk of total loss-absorbing capacity (TLAC) eligible senior debt on Tuesday, becoming the first issuer in the euro market to link the pricing levels of fixed and floating rate tranches.
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Westpac extended its sterling curve out to eight years on Wednesday, giving UK investors a rare chance to snap up Australian bank senior debt.
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Wells Fargo may have lifted the lid on a flurry of US senior trades in euros this week, opting for a rare but popular floating rate bond to become the first of the nation’s banks to head to Europe after reporting its results.
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Deutsche Pfandbriefbank raised €500m of new funding on Monday as the FIG primary market made a quiet start to the week, but bankers contemplated whether visits from US banks could boost volumes during the height of reporting season.
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Broadcom printed the biggest corporate trade of the year so far as yield hungry investors snapped up triple-B rated names ahead of US president-elect Donald Trump’s inauguration next week.
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National Bank of Abu Dhabi signed a $2bn three year loan on Tuesday, cementing the bank group for its $175bn merger with First Gulf Bank, though some key European banks turned down a role on the deal.
